Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1887-07-29
GENERAL NEWS.
THE NORTHERN PACIFIC.

| MseetnG sf the Oirectors-Ths Future
Prospects OF the Road.
New YORK, July 22.-At meeting
OF the Northern Pacific Directors yes
terday the annual report wac read
1t makes a favorable showing, not
withstanding the increased fixed
charges on account of the Cascade
Division and branch lines. The com.
pany has kept within its income and
made a surplus of over $1,OOO,OOO
The dividend scrip has been extended
under the offer of the company for
twenty years. The new scrip will be
in denominations of $500 and $1,000,
and will bear coupons payable twice
year. Itis believed that all holders
will get their scrip extended before it
becomes due, January LIST next. The
traffic agreements were ratified with
the new branch line which runs
through the Walla Walla wheat
valley, and also with the branch line
being built by the Rockford Coal Com
pany.
How the Road Has Been Compelled to
Seek Buslnsss in California.
SAN Francisco, July 81. - The
Northern Pacific Company has long
been anxious to share with its more
fortunately terminated rivals the vast
business arising in California. Cir
cumstances, however, prevented the
successful execution of their designs,
one of the principal of these being
that the Northern Pacific had really
no western terminus, only reaching
Portland over the track of the Oregon
Short Line. The completion of its
line to Tacoma, the capture by the
Union Pacific of the Oregon Railway
and Navigation Company and the par
TALLY successful operations in this city
of the Canadian Pacific, absolutely
forced the Northern Pacific to strive
for share of the California business,
and also to use every means in its
power to build up its western terminus,
Tacoma. With this purpose in view,
the directors of the company have
been in communication lately with the
Pacific Coast Steamship Company for
the purpose of securing, if possible, a
steamer line between this city and Ta-
coma, on terms similar to those grant
ed to the Canadian Pacific.
The negotiations, it is said, have
been successful the Pacific Coast
Steamship Company agreeing to set
apart two frst-class steamers to run
exclusively between this city and Ia
coma. A contract containing the
above and other stipulations as ap-
proved by the Northern Pacific has
been signed by the directors of the
company and forwarded to the Pa
cific Coast Steamship Company for its
Endorsement. The agreement is to
become effective in a week or two.
It is also stated that the Northern
Pacific has determined ON the estab-
lishment in this city of an agency
separate from that of the steamship
company. In charge of it will be
placed q general agent with California
connection and thoroughly acquaint-
ed with the freight and passenger
business, who will be invested with
the power of making such rates
as he may consider necessary to take
traffic. This agency, when established,
will be another thorn in the side of
more direct lines. Not laboring un-
der the same disadvantage as to the
Canadian Pacific, it will have a much
better chance of absorbing and doing
business, and will inevitably be effec-
tive in bringing still lower rates on
California commodities.